Courier Capital LLC Sells 1,361 Shares of General Electric (NYSE:GE)

Courier Capital LLC decreased its holdings in General Electric (NYSE:GE) by 13.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,614 shares of the conglomerate’s stock after selling 1,361 shares during the quarter. Courier Capital LLC’s holdings in General Electric were worth $824,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. FMR LLC boosted its holdings in General Electric by 5.7% in the first quarter. FMR LLC now owns 63,795,835 shares of the conglomerate’s stock worth $6,098,882,000 after purchasing an additional 3,463,502 shares during the last quarter. State Street Corp grew its holdings in shares of General Electric by 17.3% in the first quarter. State Street Corp now owns 48,490,012 shares of the conglomerate’s stock worth $4,639,533,000 after acquiring an additional 7,157,356 shares during the period. TCI Fund Management Ltd. purchased a new stake in General Electric during the first quarter valued at $2,496,379,000. Geode Capital Management LLC lifted its holdings in General Electric by 1.7% in the first quarter. Geode Capital Management LLC now owns 19,272,027 shares of the conglomerate’s stock valued at $1,837,514,000 after acquiring an additional 319,196 shares during the period. Finally, Moneta Group Investment Advisors LLC boosted its position in General Electric by 122,242.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,438,063 shares of the conglomerate’s stock worth $878,644,000 after purchasing an additional 13,427,079 shares during the last quarter. Institutional investors own 74.83% of the company’s stock.

General Electric Price Performance

Shares of NYSE:GE opened at $113.60 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.90 and a current ratio of 1.25. The firm has a market cap of $123.64 billion, a price-to-earnings ratio of 13.48, a P/E/G ratio of 6.89 and a beta of 1.28. The firm has a fifty day moving average price of $112.57 and a 200 day moving average price of $103.41. General Electric has a fifty-two week low of $48.06 and a fifty-two week high of $117.96.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.22. The firm had revenue of $15.85 billion during the quarter, compared to analyst estimates of $14.76 billion. General Electric had a return on equity of 9.30% and a net margin of 13.32%. The business’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.78 earnings per share. As a group, sell-side analysts expect that General Electric will post 2.32 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Tuesday, September 26th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, September 25th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. General Electric’s dividend payout ratio is currently 3.80%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. StockNews.com started coverage on shares of General Electric in a report on Thursday, August 17th. They issued a “buy” rating on the stock. Oppenheimer lowered General Electric from an “outperform” rating to a “market perform” rating in a report on Monday, July 31st. Bank of America upped their price target on General Electric from $108.00 to $120.00 in a research report on Thursday, July 6th. Citigroup lifted their price objective on General Electric from $126.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, July 27th. Finally, Royal Bank of Canada increased their target price on shares of General Electric from $120.00 to $130.00 in a report on Wednesday, July 26th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $120.00.

Insider Activity at General Electric

In other General Electric news, major shareholder General Electric Pension Trust purchased 35,160 shares of the firm’s stock in a transaction that occurred on Friday, June 30th. The shares were bought at an average price of $995.44 per share, with a total value of $34,999,670.40. Following the completion of the purchase, the insider now directly owns 175,160 shares in the company, valued at $174,361,270.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder General Electric Pension Trust purchased 35,160 shares of the company’s stock in a transaction that occurred on Friday, June 30th. The stock was bought at an average price of $995.44 per share, for a total transaction of $34,999,670.40. Following the completion of the transaction, the insider now owns 175,160 shares in the company, valued at approximately $174,361,270.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael J. Holston sold 112,614 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $115.20, for a total value of $12,973,132.80. Following the sale, the senior vice president now owns 57,923 shares in the company, valued at $6,672,729.60. The disclosure for this sale can be found here. 0.67% of the stock is currently owned by insiders.

General Electric Company Profile

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.